Mercator Lines plans IPO of coal mining unit

One of India's largest shipping company Mercator Lines has planned to launch initial public offering (IPO) of its coal mining unit, reports CNBC-TV18 quoting DowJoneswire.

June 29, 2011 / 18:14 IST

26 Aug, 2025 12:21

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Todays L/H

One of India's largest shipping company Mercator Lines has planned to launch the initial public offering (IPO) of its coal mining unit, reports CNBC-TV18 quoting DowJones.

The company is going to raise USD 150 million through the share sale in subsidiary.

The stock rallied 5.59%, to close at Rs 39.70 on the Bombay Stock Exchange today. It traded with volumes of 666,314 shares, an increase of 155.58% compared to its 5-day average of 260,706 shares.

Market capitalisation of Mercator Lines stands at Rs 972.22 crore.

The company has reported a net loss of Rs 50.02 crore in the quarter ended March 2011, on total income of Rs 168.37 crore.

first published: Jun 29, 2011 06:09 pm

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